Ignition Skill
Overview
Ignition is a liquid staking protocol on Fogo - stake FOGO and receive iFOGO tokens that remain liquid for DeFi use while earning staking rewards.
Key Concepts
- •Deposit FOGO → receive iFOGO
- •iFOGO is pegged ~1:1 to FOGO (unlike stFOGO which appreciates)
- •Use iFOGO in DeFi: trading, lending, LP
- •Redeem iFOGO → get back FOGO (or swap on Valiant)
Token Addresses
| Token | Mint Address | Decimals |
|---|---|---|
| iFOGO | iFoGoY5nMWpuMJogR7xjUAWDJtygHDF17zREeP4MKuD | 9 |
| FOGO | So11111111111111111111111111111111111111112 | 9 |
Program Address
| Program | Address |
|---|---|
| Ignition Stake Pool | SP1s4uFeTAX9jsXXmwyDs1gxYYf7cdDZ8qHUHVxE1yr |
iFOGO vs stFOGO
| Token | Protocol | Peg | Mechanism |
|---|---|---|---|
| iFOGO | Ignition | ~1:1 with FOGO | Rewards distributed separately |
| stFOGO | Brasa | Appreciates vs FOGO | Rewards accrue in token value |
How to Stake (Web Interface)
- •Go to https://ignitionfi.xyz
- •Connect your wallet
- •Enter FOGO amount to stake
- •Click "Stake"
- •Receive iFOGO tokens
How to Unstake
Option 1: Ignition Web App
- •Go to https://ignitionfi.xyz
- •Select unstake option
- •Enter iFOGO amount
- •Receive FOGO
Option 2: Swap on Valiant
typescript
// Swap iFOGO → FOGO via Valiant pool // Faster, may have minor slippage const FOGO_IFOGO_POOL = "HULdR8aMSxJAiNJmrTBcfKN4Zq6FgG33AHbQ3nDD8P5E"; // Use swap pattern from valiant skill // aForB = true (iFOGO → FOGO)
DeFi Strategies with iFOGO
1. LP in FOGO-iFOGO Pool
Very tight range LP for fee capture on a stable pair:
typescript
// Extremely tight range since it's a 1:1 pegged pair
const currentRate = 1.0; // iFOGO/FOGO ~1:1
const lowerPrice = 0.995;
const upperPrice = 1.005;
// Low fee pool (0.05%) with tight tick spacing (8)
const FOGO_IFOGO_POOL = "HULdR8aMSxJAiNJmrTBcfKN4Zq6FgG33AHbQ3nDD8P5E";
// Open position with iFOGO
await openPosition(rpc, FOGO_IFOGO_POOL, lowerPrice, upperPrice, { tokenB: ifogoAmount }, wallet);
2. Arbitrage
When iFOGO pool rate deviates from 1:1 peg:
- •If pool rate < 1: Buy iFOGO from pool, redeem on Ignition
- •If pool rate > 1: Stake on Ignition, sell iFOGO on pool
3. Use as Collateral
Deposit iFOGO as collateral on lending protocols (if supported).
Checking iFOGO Balance
typescript
const IFOGO_MINT = "iFoGoY5nMWpuMJogR7xjUAWDJtygHDF17zREeP4MKuD";
const tokenAccounts = await rpc.getTokenAccountsByOwner(
wallet.address,
{ mint: address(IFOGO_MINT) },
{ encoding: "jsonParsed" }
).send();
const ifogoBalance = tokenAccounts.value.length > 0
? BigInt(tokenAccounts.value[0].account.data.parsed.info.tokenAmount.amount)
: 0n;
console.log("iFOGO Balance:", Number(ifogoBalance) / 1e9);
Pool Details
FOGO-iFOGO Pool
- •Address:
HULdR8aMSxJAiNJmrTBcfKN4Zq6FgG33AHbQ3nDD8P5E - •Fee: 0.05% (500) - Low fee for stable pair
- •Tick Spacing: 8 (very tight ranges possible)
- •Use: iFOGO/FOGO swaps, tight-range LP
References
- •Ignition App: https://ignitionfi.xyz
- •Ignition Docs: https://docs.ignitionfi.xyz/
- •iFOGO Token:
iFoGoY5nMWpuMJogR7xjUAWDJtygHDF17zREeP4MKuD - •FOGO-iFOGO Pool:
HULdR8aMSxJAiNJmrTBcfKN4Zq6FgG33AHbQ3nDD8P5E - •Related: valiant, brasa, fogo-core